$400 $200 $0 0 1,000 2,000 3,000 4,000 Quantity of Used Guns Price of Used Guns $1,400 $1,200 $1,000 $800 $600 9,000 10,000 11,000 12,000 13,000 14,000 $2,200 Private Sector Demand Private Sector Supply $2,000 $1,800 $1,600 Consider the file named Gun Buyback Proposals. Currently, the equilibrium price of this type of guns in the second-hand market is 1200.00 dollars and equilibrium quantity is 6000.00 units. The government offers to buy these guns at the fixed price of $800 each. As a result 4000.00 guns will be sold in the market. Of this amount, 1000.00 will be purchased by the private sector and the remaining 3000.00 units by the government. Moreover, the government must pay a total of 3200000.00 the number of zeros). dollars to buy these guns (Be careful about
$400 $200 $0 0 1,000 2,000 3,000 4,000 Quantity of Used Guns Price of Used Guns $1,400 $1,200 $1,000 $800 $600 9,000 10,000 11,000 12,000 13,000 14,000 $2,200 Private Sector Demand Private Sector Supply $2,000 $1,800 $1,600 Consider the file named Gun Buyback Proposals. Currently, the equilibrium price of this type of guns in the second-hand market is 1200.00 dollars and equilibrium quantity is 6000.00 units. The government offers to buy these guns at the fixed price of $800 each. As a result 4000.00 guns will be sold in the market. Of this amount, 1000.00 will be purchased by the private sector and the remaining 3000.00 units by the government. Moreover, the government must pay a total of 3200000.00 the number of zeros). dollars to buy these guns (Be careful about
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Urgent Q4 I dont know why i got them wrong
Transcribed Image Text:$400
$200
$0
0
1,000
2,000
3,000
4,000
Quantity of Used Guns
Price of Used Guns
$1,400
$1,200
$1,000
$800
$600
9,000
10,000
11,000
12,000
13,000
14,000
$2,200
Private Sector Demand
Private Sector Supply
$2,000
$1,800
$1,600
Transcribed Image Text:Consider the file named Gun Buyback Proposals. Currently, the equilibrium
price of this type of guns in the second-hand market is 1200.00
dollars and equilibrium quantity is 6000.00
units. The government
offers to buy these guns at the fixed price of $800 each. As a result
4000.00
guns will be sold in the market. Of this amount,
1000.00
will be purchased by the private sector and the remaining
3000.00
units by the government. Moreover, the government must
pay a total of 3200000.00
the number of zeros).
dollars to buy these guns (Be careful about
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